Saudi Arabia's Public Investment Fund has signed five MoUs worth up to $51 billion with Japan's leading financial institutions, Mizuho Bank (TYO:8411), Sumitomo Mitsui Financial Group (TYO:8316), MUFG Bank (TYO:8306), Japan Bank for International Cooperation, and Nippon Export and Investment Insurance, according to a statement released by Saudi's sovereign wealth fund on Friday.
The agreements aim to expand PIF's global partnerships by supporting two-way capital flows and cooperation in finance, investment, and sustainable development.
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